Forging a Giant Footprint: UPMC's Sometimes Controversial Appetite for Real Estate from the Pittsburgh Post-Gazette
First of a four-part series: This week, the Pittsburgh Post-Gazette will provide an in-depth look at UPMC's real estate portfolio.
"Starting in 1982 in a single building that it didn't own, UPMC over 30 years has acquired and expanded most of the major hospitals in the region, built or purchased a network of 13 senior communities and hundreds of cancer treatment centers, rehabilitation and outpatient clinics and doctors' offices. The result is that UPMC is now Allegheny County's single largest private property owner in terms of the value of that property -- bigger than PNC, bigger than Giant Eagle, bigger than U.S. Steel -- with 656 acres worth $1.6 billion based on the 2002 assessment, 86 percent of it exempt from taxes, according to a six-month review by the Pittsburgh Post-Gazette. No other charitable organization comes close, with the University of Pittsburgh a distant second with $1 billion in property."
First of a four-part series: This week, the Pittsburgh Post-Gazette will provide an in-depth look at UPMC's real estate portfolio.
"Starting in 1982 in a single building that it didn't own, UPMC over 30 years has acquired and expanded most of the major hospitals in the region, built or purchased a network of 13 senior communities and hundreds of cancer treatment centers, rehabilitation and outpatient clinics and doctors' offices. The result is that UPMC is now Allegheny County's single largest private property owner in terms of the value of that property -- bigger than PNC, bigger than Giant Eagle, bigger than U.S. Steel -- with 656 acres worth $1.6 billion based on the 2002 assessment, 86 percent of it exempt from taxes, according to a six-month review by the Pittsburgh Post-Gazette. No other charitable organization comes close, with the University of Pittsburgh a distant second with $1 billion in property."
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